Original article by Richard Gluyas
The Australian – Page: 19 & 23 : 11-May-18
AMP incurred a backlash from investors at its annual meeting on 10 May, with 61.5 per cent of votes cast rejecting its remuneration report. The financial services group could face a board spill in 2019 under the "two-strikes" regime. AMP director Andrew Harmos has retained his seat on the board, although 37.5 per cent of votes cast were opposed to his re-election. Meanwhile, acting executive chairman Mike Wilkins has apologised to shareholders for the "fees-for-no-service" scandal, and acknowledged that rebuilding trust and confidence in the AMP brand will take time.
AMP LIMITED – ASX AMP, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CLAYTON UTZ, AMP CAPITAL INVESTORS LIMITED, FEDERAL COURT OF AUSTRALIA, SUPREME COURT OF NEW SOUTH WALES